Cream Minerals reports dreamy intercepts at Nuevo Milenio

Assay results from two additional drill holes of a five-hole program at Cream Minerals‘ (CMA-V, CRMXF-O) Nuevo Milenio epithermal silver-gold project in Mexico returned intersects of 1,886 grams silver per tonne and 6.18 grams gold per tonne over 3.11 metres, the company says.

Drillhole NM-10-04 intersected 4.55 metres (2.92 metres estimated true width) averaging 1,299 grams silver per tonne and 4.27 grams gold per tonne, including 3.11 metres (2 metres estimated true width) grading 1,886 grams silver and 6.18 grams gold and including 1.05 metres (0.67 metres estimated true width) grading 4,712 grams silver and 15.54 grams gold.

Drillhole NM-10-03 cut 9.84 metres (6.96 metres estimated true width) averaging 31.6 grams silver and 0.942 grams gold, including 0.88 metres (0.62 metres estimated true width) grading 76.8 grams silver and 3.778 grams gold.

Earlier this month Cream Minerals released assay results for drillholes NM-10-01 and NM10-02. All four of the holes tested the Dos Hornos-Veta Tomas vein system over a strike length of about 850 metres, with hole spacing from 225 metres to 380 metres.

On March 2, assay results from Drillhole NM-10-01 revealed 11.98 metres (8.64 metres estimated true width) averaging 239.5 grams silver and 0.942 grams gold, including 4.98 metres (3.59 metres esetimated true width) grading of 434.0 grams silver and 1.585 grams gold.

Drillhole NM-10-02 cut 10.98 metres (7.80 metres estimated true width) averaging 103.0 grams silver and 0.457 gram gold, including 2.78 metres (2 metres estimated true width) grading 262.9 grams silver and 1.50 grams gold.

Cream Minerals’ 100%-owned Nuevo Milenio silver-gold project is 27 km from Tepic, the capital of Nayarit state. Tepic is a commercial centre about 150 km northeast of the coastal resort town of Puerto Vallarta.

In July 2009, Cream Minerals signed a binding letter of intent with Roca Mines (ROK-V) to option Nuevo Milenio.

Under the terms of the agreement, Roca has committed to exploration expenditures of US$12 million over a four-year term ending in July 2013. If Roca completes the US$12million in exploration expenditures it can earn a 50% interest in the project. Roca then has the option to earn a further 20% for a total 70% stake if it completes a positive feasibility study before the end of November 2016.
Nuevo Milenio is a low-sulphidation, epithermal precious metal prospect containing gold-silver mineralization in quartz veins and in quartz stockwork zones within an area of Miocene volcanics in a collapsed caldera structure.
Cream Minerals started exploring Nuevo Milenio in 2000 and has identified four areas of mineralization: Veta Tomas, Dos Hornos, Once Bocas and Chacuaco-Cafetal.

In June 2009 Cream Minerals made a new discovery about 500metres southeast of the high-grade silver-gold Veta Thomas vein. A channel sample yielded assays of 0.95 gram gold per ton and 452 grams silver per ton.

The company believes the new discovery is a probable fault segment of the high-grade silver-gold Veta Tomas structure and if this assumption is correct, it would extend the known strike length of the Veta Tomas-Dos Hornos zones from 1,300 metres to 1,800 metres.

In late afternoon trading in Toronto, Cream Minerals shares were up 23.5% or 2¢ apiece to 10.5¢ a share, with 1million shares trading hands.

Over the last 52 weeks the junior has traded in a range of 5.5¢-13.5¢ a share and the company has 64.65 million shares outstanding.